# In the matter of Hyderabad Ring Road Project Pvt. Ltd. (IB)-1152(PB)-2018

> NCLT judgment dated 2019-04-25. Citation: TCN-2019-NCLT-03709. The case involves an application before the National Company Law Tribunal (NCLT), New Delhi,…

- **Court:** NCLT
- **Order date:** 25 Apr 2019
- **Citation:** TCN-2019-NCLT-03709
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hyderabad-ring-road-project-pvt-ltd-ib-1152pb-2018-12aefd7c

## Summary

### Background

The case involves an application before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. The matter pertains to ICICI Bank Ltd. as the applicant/petitioner and Hyderabad Ring Road Project Pvt. Ltd. as the respondent. The application is filed under Section 7 of an unspecified act. The order was delivered on April 25, 2019.

## Facts

ICICI Bank Ltd. filed an application against Hyderabad Ring Road Project Pvt. Ltd. before the NCLT, New Delhi, Principal Bench, under Section 7. The application was reviewed by the tribunal, which found it to be wholly misconceived. Orders related to the application had already been reserved and were likely to be pronounced. The tribunal considered the possibility of a common Resolution Professional for a holding company and its subsidiary. Ultimately, the application was dismissed.

## Issues and analysis

### Issue 1: Whether the application filed by …

**Ratio:** An application that is wholly

…

**Reasoning:** The tribunal found the application to be wholly misconceived, indicating a fundamental

…

**Interpretation:** The term 'misconceived' suggests that the application is based on a

…

**Application:** The tribunal applied the principle that a misconceived application should be

…

## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** ICICI Ban…
- **Respondents:** Hyderabad Ring…

## Timeline

- **2018-01-01 — Case Fil…**: Case (IB)-1152(PB)/2018…
- **2019-04-25 — Order Del…**: The order was delivered on April 25,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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